{ "media_type": "text", "post_content": "Has anyone made the transition from FDD to IB? I just joined FDD at a Big 4 and my end goal is IB. How did you reach out to people in IB, what specific experiences are they looking for, and how many years of experience did you have in FDD? Thanks!", "post_id": "60f5c907d5eab60021ff6370", "reply_count": 5, "vote_count": 2, "bowl_id": "5bc69fa51498b20012903b07", "bowl_name": "Transaction Services, M&A, Deal Advisory", "feed_type": "bowl" }

Has anyone made the transition from FDD to IB? I just joined FDD at a Big 4 and my end goal is IB. How did you reach out to people in IB, what specific experiences are they looking for, and how many years of experience did you have in FDD? Thanks!

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Boutique IB is doable. BB is uncommon and requires a networking “in” unless you go get your MBA from a top program (I’ve seen a Manager do this). Generally 2-3 years of FDD is enough to get you an interview at a boutique shop

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Even less in the current market. We had a couple seniors in their first year jump

Personally haven’t but have seen many make the jump. Either start hustling networking immediately and try to jump to an analyst role ASAP or put your head down for a couple years, do a good MBA and try to get in as an associate

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I have not seen anyone making that transition personally.

Couple reasons:
#1. Investment banking works through the entire deal flow, while FDD works on a portion of the deal (which is pre-deal financial diligence). As such, transitioning from FDD to IB typically requires you to start from their entry level 'Analyst' role to pick up the full deal execution experiences.
#2. When you get opportunities for IB positions (typically boutique firms), you are more likely already in your experienced senior associate role leading some/portions of an FDD project while making a run for the Manager level. By then, do you think you will be willing to start from ground 0.5 as an IB analyst and be at the same starting line/compete with kids freshly graduated from college?
#3. The ultimate skillsets between IB and FDD can be different. FDD looks at historical financial data, while IB focuses more on projected/forecasted data. FDD deliverables is a 'statement of fact that has happened', while IB work products are more often future-centric. FDD does not market a company, while IB also requires marketing/decoration/embellishment of a company.

However, with that being said, the entry to mid level pays in IB are going to be better than public accounting. If you are okay with the IB hours, interested in the work, and are able to make the transition at the early stage of your career, it is advisable.

How long have you been in FDD? I personally know probably ~15 who have made this jump.

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